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02/12/2018 | OUCH! That's probably the most apt way to describe investor sentiment about the stock market over the past couple of weeks. Despite a strong close last Friday, each of the benchmark indexes listed here lost significant value for the week.

02/05/2018 | Equities pulled back off of their record-setting gains at the end of January, but not enough to forestall a month of significant gains. January provided several noteworthy storylines for investors to consider.

02/05/2018 | Whether it was the start of a market correction or just a blip in what otherwise has been an almost nine-year bull run, equities suffered their largest losses in quite some time last week.

01/02/2018 | While 2017 surely was a strong year for equities overall, the last week of the year was lackluster at best. Each of the benchmark indexes listed here posted week-over-week losses, except for the Global Dow, which increased 0.23%.

12/11/2017 | Last week proved to be a mixed bag of market returns as the large caps of the Dow and S&P 500 posted moderate gains, while the tech-heavy Nasdaq and small caps of the Russell 2000 closed the week down.

12/04/2017 | Equities surged for much of last week until an abrupt decline midday last Friday culled some of the earlier gains. Nevertheless, of the indexes listed here, only the Nasdaq lost value from the prior week.

11/27/2017 | Stocks rebounded last week in spite of the market shutting down for the Thanksgiving holiday. Each of the benchmark indexes listed here posted weekly gains, led by the Russell 2000, which posted one of its largest weekly advances this year.

11/20/2017 | Last week saw a mixed bag of returns as the large caps of the Dow and S&P 500 lost value for the second consecutive week, while the tech-heavy Nasdaq and small caps of the Russell 2000 posted gains.

11/13/2017 | Trepidation over proposed tax reform took a toll on large caps last week, ending what had been a run of consecutive weekly positive returns. The small caps of the Russell 2000 were particularly hit, sending that index down over 1.30%.

11/06/2017 | The benchmark indexes were mixed last week as large caps and tech stocks performed well, while small caps took quite a hit. The S&P 500 closed the week posting gains for the eighth straight week.

10/23/2017 | The Dow jumped 2.00% last week, reaching 23000 for the first time in its history. Strong corporate earnings and the anticipation of Congress reaching a budget resolution swayed investors toward equities.

10/04/2017 | El Nuevo Día
Hernando Montero, Director of Credit Analysis at Stoever Glass, quoted on what to expect from President Trump’s visit to Puerto Rico. Trump left the island without making a concrete commitment to help recovery efforts, while Oversight Board sought action from Congress.

10/02/2017 | Trading during the summer months is customarily slow, and the summer of 2017 proved no different. July kicked off the third quarter with equity markets enjoying noteworthy gains over their June closing values.

09/18/2017 | Stocks followed the prior week's plunge by surging to record highs last week. The Dow, S&P 500, and Nasdaq reached new all-time highs during the week, as each of the indexes listed here posted impressive gains.

09/11/2017 | Bond ratings try to predict if bonds will be repaid principal and interest on the promised date for your bond. Municipal bonds are like certificates of deposits, which promise interest and principal on specified dates.

08/28/2017 | On May 3, the Commonwealth of Puerto Rico filed for a record-setting bankruptcy in an effort to reduce $74 billion in bondholder debt and $49 billion in pension obligations to government employees after years of economic decline and debt financing.

08/21/2017 | Last week saw domestic and global conflicts heighten investors' concerns, pushing stocks lower in what was a slow week for trading. The Dow lost over 270 points last Thursday, offsetting robust gains the prior Monday.

08/14/2017 | The Pew Charitable Trusts released its Fiscal 50: State Trends and Analysis, which provides a comprehensive look at five core areas that are essential to states’ fiscal health: revenue, spending, economic, demographic, long-term costs, and fiscal policy trends.

07/31/2017 | Of the benchmark indexes listed here, only the Dow and the Global Dow posted gains last week. The remaining indexes closed the week modestly lower, despite a rise in energy stocks following Saudi Arabia's promise to cut back oil production.

07/26/2017 | Host Roland Stoever explains how growing pension costs point to a need for state and local governments to address long-term public pension funding. With expert guest, Hernando Montero-Salazar, Stoever Glass Director of Credit Analysis.

07/24/2017 | Except for the Dow, each of the indexes listed here posted modest gains by the close of last week. Favorable corporate earnings reports helped boost the S&P 500 and the Nasdaq, which performed the best.

07/24/2017 | U.S. Virgin Islands (USVI) is an organized, unincorporated territory of the United States of America. It has responsibility for public safety, health, public housing and welfare, education, transportation and communication, and culture and recreation.

07/03/2017 | Last week was not a positive one for equity investors. In a week of heavy trading, the Dow and S&P 500 each lost value while the Nasdaq dropped nearly 2.0%. Of the indexes listed here, only the Russell 2000 and the Global Dow didn't lose ground, eking out minuscule gains.

06/26/2017 | The U.S. Census Bureau has released its 2016 Annual Survey of Public Pensions, which provides a comprehensive look at the financial activity of the nation’s state- and locally-administered defined benefit pension systems, including cash and investment holdings, receipts, payments, pension obligations and membership information.

06/21/2017 | Host Roland Stover and guest Hernando Montero-Salazar discuss Hartford, Connecticut – the capital city of the most prosperous state in the Union, and the birthplace of the American insurance business.

06/19/2017 | Green Bonds are fixed-income securities, both taxable and tax-exempt, that raise capital for use in financing or refinancing projects and activities with specific climate or environmentally sustainable purposes.

06/12/2017 | The benchmark indexes listed here produced mixed results last week. The large-cap Dow gained a little more than 0.25%, while the small-cap Russell 2000 jumped over 1.0% by last week's end.

06/05/2017 | May provided a bumpy ride for investors. However, by the end of the month, each of the indexes listed here posted monthly gains with the exception of the Russell 2000, which lost over 2.0%.

05/31/2017 | Host Roland Stoever explores the roots of the island’s difficulties – decades of policies and decisions that did not play out as expected. With Hernando Montero-Salazar, Stoever Glass Director of Credit Analysis.

05/30/2017 | Following two weeks of losses, equities rebounded last week, with each of the benchmark indexes listed here posting week-over-week gains, led by the Nasdaq, which climbed over 2.0% for the week and is up 15% since the beginning of the year.

05/29/17 | In the weeks following Donald Trump’s election, equity markets, together with interest rates, increased in anticipation of economic growth spurred by corporate tax cuts and a more business-friendly regulatory environment.

05/22/2017 | On May 10, 2017, Hartford, Connecticut took a step toward bankruptcy by soliciting proposals from law firms that specialize in municipal restructuring and Chapter 9 bankruptcy, which protect financially strapped municipalities.

05/15/2017 | On May 3, 2017, the Financial Oversight and Management Board for Puerto Rico filed a Title III Petition for relief under Section 304(a) of the Puerto Rico Oversight, Management, and Economic Stability Act of 2016 (“PROMESA”) with United States District Court for the District of Puerto Rico.

05/03/2017 | Host Roland Stoever and guest Steve Sapirstein explore the intersection of politics and government, and what it means for the individual investor, including the possibility and the effects of municipal default.

05/01/2017 | Stoever Glass Wealth Management, the nation's oldest municipal bond firm, is expanding its investor education and outreach efforts through MuniMatters, a new radio program focusing on the intersection of finance and politics, Wednesdays at 6 pm beginning April 19, with rebroadcasts Saturdays at 3 pm. MuniMatters airs on 880 AM The Biz, Miami, part of the Wall Street Business Network.

05/01/2017 | Bond ratings begin with a request from the issuer. The issuer must pay a fee to obtain a rating. That is why ratings are not automatic. In addition, if an issuer sells more bonds without a rating, the rating will generally be withdrawn.

05/01/2017 | Tech-heavy Nasdaq reached 6000 for the first time in its history last Tuesday. The small-cap Russell 2000, which surged for much of 2016 but fell back earlier this year, rebounded over the past few weeks, attaining a record high of 1419.43 by midweek.

04/24/2017 | Better-than-expected earnings reports for the first quarter helped push stocks higher last week. Each of the benchmark indexes listed here posted gains, some for the first time in several weeks.

04/03/2017 | Riding the momentum following the presidential election, stocks surged for much of the first quarter of 2017. Buoyed by the anticipation of tax cuts and policies favorable to domestic businesses, the benchmark indexes listed here reached historic highs throughout the quarter.

04/03/2017 | Stocks rebounded last week as each of the indexes listed here posted week-over-week gains. The small-cap Russell 2000, the strongest-performing index last year, hit a rough patch over the past several weeks.

03/27/2017 | Chicago, its School District and Illinois revive memories of New York City in 1975 and Philadelphia in the early 1990’s. In all three cases, the City, School District and State’s credit were intertwined.

03/27/2017 | Uncertainty over whether Congress would pass a new health-care law, coupled with the prospects of additional interest rate hikes later in the year, may have weighed on investors' minds as stocks tumbled early last week.

01/30/2017 | Bond ratings try to predict if bonds will be repaid principal and interest on the promised date for your bond. Municipal bonds are like certificates of deposits, which promise interest and principal on specified dates.

01/09/2017 | THE DIS-UNITED STATES OF AMERICA? State general obligation bonds offer the safest returns in the municipal bond industry. Statistically, the U.S. is in its 8th year of economic recovery. In times like this, all boats usually rise with the tide.

12/19/2016 | Detroit’s and Puerto Rico’s financial melt-downs highlighted attention to benefits which will continue to be paid long after this fiscal year. Governments could pay pension benefits for 10-15 years or more even with unfunded liabilities as high as 50%. This is the case, even if government contributions are not made.

12/12/2016 | In most of the country, primary and secondary education is provided by independently elected boards that have their own taxing power, separate from the cities they serve. In those situations, fiscal distress or bankruptcy of a city does not affect payments on school district debt.

12/05/2016 | In municipals, there are three types of bonds paid from electric utility operations. The safest are city/state operated retail systems, which are basically legal monopolies selling an essential service. Some of these systems can see ratings as high as “AAA”.

12/01/2016 | The economy picked up the pace in November, as did the stock market. After getting off to a sluggish start during the early part of the month, equities soared following the results of the presidential election.

11/28/2016 | These bonds (IRBs for short) as a class, probably have the highest credit risk that you may not be repaid on time or in full. That said, the interest rate yields are the highest in the industry.

11/14/2016 | This isn’t about Clinton or Trump. Whenever there is a change in the Presidency and/or Congress, this question gets revived: should municipal bonds continue to be exempt from federal income taxes?

11/07/2016 | Even a good jobs report wasn't enough to steady investors last week, as each of the indexes listed here lost value from the prior week. Oil prices fell sharply midweek following a report that crude oil inventories are much larger than expected.

10/31/2016 | In general, bond ratings are higher for state-wide single family mortgage programs, with ratings as high as “AAA” to “AA”, because of loan diversity, and the intrinsic safety of single-family mortgage pledges.

10/10/2016 | Development district bonds are paid from special taxes or assessments on a new neighborhood or development not within a city’s limits. Therefore, essential water and sewer service is the district’s responsibility.

10/03/2016 | Mass transit systems are essential services for large cities. Without them, traffic jams and automobile accidents would cripple the ebb and flow of commuters and businesses. Despite this demand, mass transit is rarely profitable.

09/26/2016 | The Markets (as of market close September 23, 2016)
Buoyed by news from the Fed and the Bank of Japan that measures intended to stimulate the economy would continue — at least in the short term — U.S. stock and bond prices posted gains for the week.

09/26/2016 | Like airports, there are two types of sea-based port facilities. General purpose ports depend on warehouse and storage rental fees, loading and unloading fees, and passenger fees for those ports that serve tourist cruise liners.

09/26/2016 | Daniel Webster defined credit in 1834 as “man’s confidence in man.” Bankers, lenders, and borrowers still profess to agree, even though the aphorism also suggests the power that a confidence man has to draw money from greedy innocents.

09/22/2016 | Puerto Rico borrowed freely in 2012. Raters upgraded the Commonwealth in 2010/2011. In 2013, investors believed they would see good recovery even in default. Puerto Rico’s need to borrow was investors’ “knockout punch” in this heavyweight battle

09/12/2016 | Equities indexes rebounded early last week as lackluster economic reports in the labor and manufacturing sectors, coupled with a falling dollar, appear to be fueling speculation that the Fed won't be raising interest rates following its meeting later this month.

09/12/16 | What first seemed simple has become one of the most complex types of tax-free bonds. In 1998, 48 states and 4 territories made a deal to get paid billions of dollars annually from tobacco manufacturers, in return for states dropping expensive lawsuits.

08/22/2016 | The Markets (as of market close August 19, 2016)
By the close of last Monday, the Dow, S&P 500, and Nasdaq each had reached record highs for the second time in the past week, only to retreat by Tuesday's close.

08/08/2016 | Dick Larkin's Palm Beach Post Weekly Column: HOW VALUABLE IS MUNICIPAL BOND INSURANCE
In 1972, AMBAC became the first major company to guarantee payment of municipal bonds with a “AA” rating. In 1994, MBIA became the first bond insurer with a “AAA” rating on its insured bonds.,/br>

08/08/2016 | Market Month: July 2016
The Markets (as of market close July 29, 2016) Following an initial downturn largely in response to June's Brexit vote, equities rebounded during the month of July. The first full week of the month saw each of the indexes listed here improve over the prior week, led by the Nasdaq, which gained almost 2.0%. The Dow recouped just about all of the value lost right after the vote.

08/01/2016 | Roland Stoever : Market Week: August 1, 2016
The Markets (as of market close July 29, 2016)
The large-cap indexes cooled off a bit last week, particularly influenced by a somewhat disappointing GDP growth rate for the second quarter and lackluster earnings reports from some key companies.

07/25/2016 | Roland Stoever: Market Week: July 25, 2016
he S&P 500 reached a record high last Friday as each of the indexes listed here posted marginal gains over the prior week. Equities have demonstrated a positive trend over the past several weeks.

07/01/2016 | Market Week: July 5, 2016
The beginning of the week saw equities still reeling from the Brexit vote. However, the markets closed with a flourish, recouping all of the losses from the prior week.

06/27/2016 | On June 23, in a vote heard around the world, citizens of the United Kingdom (England, Scotland, Wales, and Northern Ireland) opted to leave the European Union by a margin of 52% to 48%. Financial markets reacted swiftly to concerns about potential economic ramifications of a British exit--or Brexit--from the EU.

06/13/2016 | Market Week: June 13, 2016
The major market indexes listed here were relatively flat for the week. Despite gains earlier in the week, losses Thursday and Friday wiped out most of the positive returns.

06/06/2016 | Market Week: June 6, 2016
Friday's dismal news on the labor front put a damper on expectations that the Fed will raise rates later this month, drove a pullback in domestic stocks, and sent Treasury yields into decline

05/25/2016 | Market Week: May 23, 2016
The Dow slipped for the fourth week in a row as investors may have been influenced by the uncertainty surrounding whether the Fed will raise interest rates at its next meeting in June.

05/09/2016 | Market Week: May 9, 2016
A mixed bag of economic indicators headlined by an underwhelming jobs report, coupled with news of continuing financial trouble in Puerto Rico, pushed stocks lower for the second week in a row.

05/09/2016 | Would a Puerto Rico default hurt all municipal bonds?
Puerto Rico has racked up some pretty serious debt. At last check, it's more than $70 billion. The territory says it can't make payments on it. And lots of people are talking about what to do about it.

05/04/2016 | Market Month: April 2016
Despite a poor close to the month, the indexes listed here improved in April (with the exception of the Nasdaq) compared to their March closing values--but not by much.

04/20/2016 | PUERTO RICO DEBT: A COMEDY OF ERRORS, BUT NO ONE IS LAUGHING
Puerto Rico government and its citizens will pay higher debt costs for decades Puerto Rico’s Government Development Bank (GDB): A Help or hindrance?

04/18/2016 | Slow and steady is sexy again: Investors return to munis | from www.lasvegassun.com
The municipal-bond market looks to be regaining its reputation for delivering reliable if unsexy returns, following several big swings since the financial crisis.

04/05/16 | Market Week: April 4, 2016
A solid jobs report for March, coupled with continued strength in the housing sector, may have influenced equities as each of the indexes listed here posted gains week-over-week.

04/01/16 | Quarterly Market Review: January-March 2016
The first quarter of 2016 started with a whimper as equities suffered several weeks of losses. However, as March came to a close, several of the indexes listed here recovered enough to finish the quarter in positive territory.

03/28/16 | Market Week: March 28, 2016
After five consecutive weeks of gains, stocks cooled as each of the major indexes listed here slid into negative territory by the close of last week. With the latest downturn, only the Dow is ahead of its 2015 year-end closing value.

03/07/16 | Market Week: March 7, 2016
Equities continued to show life as each of the major indexes listed here posted gains over the prior week.
Favorable reports from the employment and manufacturing sectors may be quelling investor fears of an
imminent recession.

03/02/16 | Market Month: February 2016
Following steep declines in January and a rocky start to February, equities rebounded by the end of the
month to finish close to their ending values from the prior month. The Dow actually finished up, gaining a
little over 50 points by February's market close.

2/29/16 | Market Week: February 29, 2016
Last week saw a mixed bag of information from some major economic sectors, which may have influenced
the equities markets to record some marginal gains by week's end. Each of the indexes listed here posted
week-on-week gains, led by the Russell 2000 and Nasdaq.

02/22/16 | The Markets (as of market close February 19, 2016)
The major indexes listed here posted gains by the end of last week, marking the best overall week of
performance in the new year. Both the Dow and the S&P 500 posted end-of-week gains of 2.62% and
2.84%, respectively. The Nasdaq and Russell 2000 recouped some of their early-year losses with gains
close to 4.0%. Even the Global Dow gained 3.80% over the prior week's close.

01/26/16 | Puerto Rico Said to Present Debt-Restructuring Plan Friday
Puerto Rico plans to meet with creditors on Friday and present a long-awaited proposal that would inflict losses on bondholders as the commonwealth seeks to reduce a $70 billion debt burden that island officials call unsustainable, according to two people familiar with the discussions.

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